The world is moving towards technology, so does the business world; most of the (new and old) ventures are now using the facility of the internet on their devices being used within the business premises; it’s very good practice though, but only good?
What would you say about it? Won’t cyber-criminals ever target these devices, as they are also connected with the WWW?
Cybersecurity experts have already indicated the fear of data hacks and breaches that could possibly occur from the devices being used within the business, especially those businesses which mostly depend on computerized technology; one could thank increasing insiders’ cyber attacks.
Those businesses which are based on computerized technology they should invest in their company’s cybersecurity to protect their confidential information; big companies do invest in their employee’s cybersecurity because their employee’s work is mostly online and refraining them from cyberattacks is a must.
According to a Kotaku report – 62 percent of cyberattack victims are small and medium-sized businesses. Hackers always assume that these small businesses are poor in protecting their personal protection because they do not invest in their cybersecurity, and with them, their employees are also in danger.
Aren’t they right?
They are! No matter what size of your business is, you should invest in cybersecurity to secure and protect your information from malpractitioners and spying eyes.
Anyways, if you still think about whether to invest in their cybersecurity or not?
These pointers will make you do that!
1. The growing rate of cloud data
The bigger the business, the more is the amount of data is generated. Every business has some personal file which has the excess to only some people, not only big enterprises has these type of documents, small businesses also have a lot of personal data like sales reports, secret SOPs, client details, marketing plans, etc.
For ease of operation and to resolve storage issues, most companies back-up their data in private cloud systems. Well, most of the cloud users have their own security layers of protecting data but the data is also on the internet and there is the risk of a security breach that’s still lurking.
The threat is more severe if you take into consideration organizations like banks, or fine corps, or even government institutes. In these types of institutes, there is a large amount of data and even a small breach could result in massive amounts of financial and put millions of people at risk.
Microsoft reported that in 2017 cloud-based attacks pushed by 300%; you can protect cloud-based attacks by deploying next-generation solutions designed specifically for the cloud, simple repurposing traditional on-premises security tools won’t be of help.
2. Employee errors
This is yet another aspect of your company which can make it susceptible to attacks. It isn’t just important to adopt security measures, but you will also need to train your staff to be alert when dealing with work-related yet sensitive tasks. Even a small mistake can cause massive destruction, and also your staff needs to understand that when and where not to divulge sensitive information.
Do you know?
Insider threat incidents cost an average of $8.76 million a year; malicious insider threats are way more expensive than accidental insider threats, negligent employees or contractors cost an average of $283,281/head, whereas malicious insider credential theft loss an average of $648,845/incident.
Hackers are becoming more clever they create an official-looking form on a site or act as they are some official person to take out the information. It is thus important to make your employees aware of such cases, and ensure they are able to keep their responsibilities.
3. Harming reputation and Goodwill
It takes years to build up a successful business. Hard work, grit, long hours, your sacrifices all it takes to make your dream come true. But imagine that everything you earn through that business – your clients, entire reputation – are all lost in just one blink of an eye.
It’s scary, isn’t it?
Cyber attackers are always in search of a company with vulnerabilities – loopholes, flaws – in their system so they bring that company on its knees.
Hackers try to lockout your whole system until you agree to pay the ransom; ransomware attacks have doubled this year, criminals have become more powerful with newer forms of attack techniques to conduct campaigns.
If they get any of the personal information of your client you can face the consequences which will badly harm your business.
4. Increase customer confidence
Having network security certification for your business matters to your customer. Knowing that your company has taken the measures required to attain a security certification proves to all parties that you can take care of their valuable data. The clients get the confidence of doing business with you, your company loyalty increases the customer’s trust, which gives you more and more profit.
Many enterprises owners do not only invest in their companies but also invest some capital on their employee’s cybersecurity but missed out employee’s training on how to protect their confidential information, as phishing attacks are common and without training you can not be able to recognize that if this email is real or fake.
So training of the employees is very important.
Well by following these instructions you are able to save your client’s personal data, your trade secrets, marketing techniques, SOPs, and everything that you don’t want to share with anyone, especially with your competitor.
Invest as much as you can on the cybersecurity fronts that include not only infrastructure but the human resource too; I think employees are your asset, training them is like an investment that will definitely earn more in the long run.